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Retirement Planning: Consumers lack confidence in their preparation

By Chelsey Emmelhainz

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Only 28 percent of American workers are confident about their retirement planning preparation, reports a new study from Sun Life Financial Inc.

According to the company’s findings, even fewer workers — only one in four — are confident that they will be able to live the kind of life they want during retirement.

Cathy Weatherford, president and CEO of IRI, expressed concern over the statistics saying, “Unfortunately, Sun Life’s findings released today paint a troubling picture for the millions of American workers planning for retirement.” Regarding the future of retirement planning, she added, “…It is imperative that Americans revisit and revise their retirement savings strategies.”

Sun Life created the study, called the Unretirement Index, to learn more about the reasons people choose to continue working full or part time after reaching the age of retirement. For more information on the study, visit www.unretirementindex.com.

Sun Life Inc. is a member of the Insured Retirement Institute (IRI), a non-profit organization committed to promoting consumer confidence of retirement strategies.